Theres no one size fits all in the world of stock-broking. An old lady with a $200,000 inheritance to spend and no knowledge of investments will have a very different need from her broker than a swing trader who skips in and out of trades several times a week.
Here are some of the factors that will impact your choice of broker:
1. How much money you have to spend those with budgets of $100,000 and more who would like a professional to invest it on their behalf may be best off with a discretionary service, particularly if they have a very limited knowledge of investing. Beware however that if you choose an advisory service of any type, if youre putting less money on the table then youre more likely to get a junior advisor.
2. Frequency of trading If youre a frequent trader who trades several times a week (or day) then brokerage costs will be far more of an issue than a long term investor (who may only make a handful of trades every year). If you do make frequent stock trades, and know what youre doing, then you may be better off with an online execution only brokerage service. This type of service tends to be least expensive with some stockbroker companies...
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